Last Updated on August 7, 2022 by Danielle McDonald
There are free grants, loans and mentoring provided in the state of Florida. They offer assistance for women, veterans, as well as entrepreneurs or startups. It is designed to assist businesses with limited capital access (mostly Black, Latino, women, etc.) receive the financial help they require. It does not matter if it’s a loan with low interest or cash grants. Below is a list of grantors, lenders, and programs.
Non-profits, the state or federal government, banks, charities and other organizations provide financial assistance and other support. This includes mentoring, networking, technical help and more. Moreover, each of the assistance programs, loans, or grants listed below has allocated funds for Black, Latino or women owned businesses. Funds are also available for Latino, Black, LGBTQ, veterans, and other minority or disadvantaged groups (MWBE) in the state of Florida. Additionally, business advice and support are also available for immigrant-run organizations.
Many of the resources available to small and mid-sized businesses are located in major cities like Miami, Orlando, Jacksonville or Tampa Bay. However, programs are also available throughout the state. All agencies may be able to offer funds, and also separate counseling, marketing assistance, and other free advice.
Loans and Free Grants for Women or Minority Owned Businesses in Florida
This list contains the most current resources for disadvantaged business, including BIPOC (Black, Indigenous, People of Color) in Florida. There are grant and loan programs, as well as other resources to assist minority or women owned or run businesses.
Year Round Financial Resources for Businesses
There are financial assistance programs which are available all year. You can find details below by “category,” including by city/county/geography.
Statewide Florida MWBE Assistance Programs
Black Business Loan Program
Black owned businesses in Florida are eligible to apply for the Black Business Loan program. The CDFI for Florida, The Community Fund of North Miami Dade, offers it. This intention is to help small- to mid-sized Black men or women owned businesses with difficulty getting funds from traditional banks. Then, qualified Black owned businesses can borrow up to $100,000. This money can be for inventory, payroll, expansion, and other bills.
Prospera provides assistance for Hispanics all across Florida. There is help available for immigrants, Latinos, Cubans, and any South American residents. They have several offices throughout Florida. They offer referrals to free grants or low-cost loans, free business plan and marketing plan development, legal assistance, free workshops, and more. The intention is to assist Hispanics are empowered financially, professionally, and business-wise. Additionally, they provide support for Hispanic entrepreneurs and small businesses. Click the link above to continue reading.
Broward/Miami/Dade County/Palm Beach Area Grants, Interest-free Loans and Mentoring
Urban League and Central County Community Development Corporation
Businesses in Broward County have two options to turn to: the Urban League and Central County Community Development Corporation (also known as CCCDC). The assistance provided includes an entrepreneurship center, small business loans, technical assistance, and business capital or loans from Wells Fargo Dream Fund. They also offer one-on-one mentoring, tax planning, and many other programs for women, Black and minority business owners. Click the link above to learn more about their services.
Miami MBDA assists women owned businesses located in Miami-Dade County. There are several available resources, such as business plan development classes, free coaching programs, and analysis on financial matters. They also offer help in applying for free grants or low-cost loans. Furthermore, they assist women and minorities obtain more revenue and contracts from the government. All resources can also be found in Spanish. Click the link above to continue reading.
This is quite similar to the Mi Casa Resource Center which is one of the Free Grants and Loans for Minority and Women Owned Businesses in Colorado.
Black Business Loan Program
Black owned businesses in Miami-Dade can apply for low-cost loans from the Black Business Loan Program. The Bayside Foundation operates this program. You can get up to $150,000. Additionally, you can receive assistance regarding inventory, working capital, salaries and a few other expenses. Click the link above to apply.
This is quite similar to the Newton Macon which is one of the Free Grants and Loans for Minority and Women Owned Businesses in Georgia.
Axis Helps Miami
Axis Helps Miami is another Miami-Dade County program that helps businesses, including MWBE, Latino, LGTBQ+, etc. Financial assistance can be provided in the form of not only grants or loans, but also as free mentorship, networking, investor pitches, business training, information about government contracts, and assistance in getting minority certification, and more. Click the link above to learn more about the agency.
Urban League of Palm Beach County
The minority owned businesses (Black, Latino, Puerto Rican, veterans, women, etc.) in Palm Beach County may receive financial help and other assistance from the Urban League of Palm Beach County. They offer everything from mentoring to information about grants for the government, corporations or loans. Additionally, the Business Centers offer classes and workshops both for entrepreneurs and business owners. Click the link above to learn more.
Hispanic Chamber of Commerce of Palm Beach County
The Hispanic Chamber of Commerce of Palm Beach County/Central Palm Beach County Chamber of Commerce is another source of assistance. The Chamber offers a Small Business Resource Center that is free for use. Latinos, Hispanics, immigrants, and people of color may obtain knowledge on how to apply for grants, and promote their business or develop it. They also offer discounts on office supplies, and network. Click the link above to find out more about their services.
Central Florida area
UCF Business Incubation Program and Florida High Tech Corridor
The UCF Business Incubation Program and the Florida High Tech Corridor covers Central Florida. They support women owned businesses in Florida, including those of Black, Hispanic, or White. However, sometimes, grants will be available to assist women owned businesses in growing their existing companies. Additionally, they help to “test” an idea and launch a company. This includes the legal aspects of it, the Traction Program, and ongoing support. Click the link above for more details.
Small Business Development Center
The Small Business Development Center is located at Daytona State College, and they offer assistance to MWBE owners in the Daytona Beach area. There are several resources available, including financial ones. The United Minority Scholarship program is one of them. Moreover, they assist with raising capital, social media marketing, government contracting for MWBE businesses, and more. Click the link above to continue reading.
Panhandle Region Free Government Grants and Financial Assistance for MWBE and Veteran Businesses
Apalachee Regional Planning Council
The Resolving Loan Fund from the Apalachee Regional Planning Council is available for women and minority owned businesses in the Apalachee region. This fund can not only be used to help existing businesses, but also provide capital for start-ups. Additionally, there are loans for borrowers with bad credit. You may, however, need to have a business plan, mentorship, and ongoing support. Click the link above to continue reading.
Grants, Loans, and Assistance for Women, Veteran, and Minority Businesses in Southwestern Florida
Southwest Florida Women’s Foundation
Women owned businesses in Collier, Lee, Glades, Hendry, Charlotte County may receive financial aid, no interest loans in partnership with Kiva, education support, and other business assistance. The Southwest Florida Women’s Foundation is a non-profit organization that assists women owned businesses. The main office is located in Bonita Springs FL 34135. You may call (239) 908 0301.
MicroEnterprise Institute of Goodwill Southwest Florida (SWFL)
They provide assistance in multiple counties, including interest-free microloans (as a Kiva Trustee). All businesses, such as female, veteran, immigrant, or minority owned may receive assistance. However, the main focus of the program is to assist low-income business owners or startups. Furthermore, there are several services available, including financing, loans, free workshops, business plan development mentoring, and more. The non-profit helps those in Lee County, Charlotte, Collier, Hendry, and Glades. Click the link above to read more.
Grants, Loans and Assistance in Tampa Bay/St. Petersburg
Hispanic Chamber of Commerce of Pinellas County
Hispanic-Latino-owned businesses or those looking to start a company in Pinellas County may contact the Hispanic Chamber of Commerce of Pinellas County. They provide several services, including information about government grant programs or bank loans, mentoring, networking, databases, and more. Furthermore, their goal is to assist the Hispanic community in growing or starting a business. Click the link above to find out more.
Tampa Bay Women’s Business Centre
The Tampa Bay Women’s Business Centre offers a broad variety of free resources and grants for women owned businesses, or entrepreneurs. They provide information on how to raise capital from equity, loans, investors or free government grants. You can also take classes and workshops online or in-person. There are many services available, including counseling, mentoring, wellness services, and the Women Building Futures Program. Click the link above to find out more.
Minority Business Accelerator Program
The Minority Business Accelerator Program can help minority owned businesses in the Tampa Bay area, including Hillsborough, Pinellas, or other counties. The Chamber of Commerce with local partners operate this program. The objective is to arrange loans, and help Black and Latino owned businesses obtain capital. Additionally, they coordinate various nonprofits and “leaders” in the Tampa Bay area to give back, volunteer, or coordinate programs. Click the link above to read more about it.